iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,906 Blog Posts

MARKETS CAREEN LOWER AS AMERICA SLIPS INTO OBLIVION

It’s over Ladies and Gents. The barbarian hordes have taken over our cities and everything that was once sacred in America (family, trust, integrity, honor) are now gone. Replacing it are “heroes”, the “front line” nurses and doctors injecting vaccines into people in order to do nothing against the spread of COVID. These people are in fact braver than the men who stormed the beaches of Normandy, catching German bullets with their helmets in the name of democracy. Now we cannot visit a restaurant without the proper medical status, not because the vaccine stops the spread of COVID — but in order to express our allegiance to this new religion — one based on the premise of science.

Speaking of science, XBI got plugged today and all rugs pulled, as markets careened lower in a manner that is reminiscent of all previous bear markets. People sold the close as fast as they could — because they cannot stand to see what the headlines read tonight.

Will the 10yr eclipse 2%? Will rising rates cause another housing crash?

One thing is for certain, we have popped the tech bubble in its entirety. Shares of NET are down 60% from their highs and lesser names are down even more. For me, I view this as capitulation and a time to buy. This is counter-trend and sometimes counter-trend pays off big. I closed down 3.5% for the session, 10% cash, long besides my emotions because nothing crashes forever, as we now inverse the Trumpian returns and bleed out unceremoniously. We shall rise again — but the gains will be short lived and frantic, so take the bounces when they come and bank them.

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11 comments

  1. Orson

    It’s been gone starting a long time ago with politicians, the financial services industry, and Wall Street.

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  2. it is showtime

    Mission creep, and, Boiling frog
    were plain view being used with the vax agenda op, a year ago
    You all let it happen amidst observers directly and comprehensively narrating

    HA HA
    10 yr 1 point 8
    almost exactly 2 yrs
    since weve seen 1 point 8
    *NO*NEW*RECORD*HIGHS*
    few months now could be called topping process

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  3. wolfdaddy

    Depressing ass post, fucking idiot showtime. Fly bottom turn around Tuesday at least for a relief rally

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  4. alty

    Looking forward to scooping up Flys IRA panic sales at the bottom when it comes

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  5. shy

    Some politicians over-advertised the efficacy of the vaccine with regard to the spread of variants. How does anyone expect that a variant with an R0=10 can be stopped by a vaccine that’s at most 75% effective against that variant after the third dose? Nevermind that the old vaccine loses its effectiveness versus the variant faster because a higher level of antibodies are needed to counter a variant when the spike proteins don’t fit so well anymore.

    Instead of every infection being spread to 10 people, it can spread to 2 or more.
    Is an exponential explosion of cases any surprise?

    If there’s a silver lining for those who survive the COVID relatively unscathed, a breakthrough COVID infection in a vaccinated person apparently leads to much higher COVID immunity than the vaccine alone.

    Who will be the first politician to take credit for that?

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    • roguewave

      a non-breakthrough COVID infection in a non-vaccinated person apparently leads to much higher COVID immunity than the vaccine, and you can skip the 40% increase in your overall mortality

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      • shy

        Among persons already infected with COVID-19 once, persons lacking a subsequent vaccine also suffered a higher rate of reinfection during a prior wave, roughly twice the rate in some cases. Of course, this comparison is biased because it fails to include persons who were previously infected with COVID more than once.

        It’s the same pattern though: more exposure, more immunity for the survivors.

        Additionally ascribing that increase in overall mortality to a vaccine where every delivered dose is counted versus a virus in the wild that is often uncounted clearly suffers bias, especially considering that mortality rates spiked over 40% above baseline in some populations well before the deployment of any vaccines.

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  6. the_wolf

    rotation into energy is forgone conclusion,
    oil hundy roll
    oilman muthafukka’s

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    • Mr. Cain Thaler

      That Turkish pipeline exploding won’t hurt your chances either.

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  7. cmj

    Quickest route to positive YTD, all in on $LABU

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  8. ace noodle boy

    ETH wants 5400 this year.

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